What the bank advertises against the most it can charge. The gap is much wider than on a home loan.
| Advertised rate | 9.99% p.a. onwards |
|---|---|
| What it means | HDFC Bank can charge up to 24.00% for this product. The advertised figure is a starting rate, not an offer. |
Checked at source 26 Aug 2026 · HDFC Bank’s own personal loan page, hdfcbank.com · verified
The short answer
HDFC Bank personal loans run 9.99% to 24.00% a year, fixed. The 9.99% is the joint lowest advertised rate of the 8 lenders we track, shared with Axis Bank, ICICI Bank and IDFC First Bank. But the range is 14.01 points wide. SBI’s is 5.00 points. Your rate depends on your credit score, repayment history, loan size and tenure.
HDFC Bank personal loan interest rate
| Particular | Detail |
|---|---|
| Published range | 9.99% – 24.00% p.a. |
| Rate type | Fixed — not floating, which decides what it costs to exit |
| Size of the range | 14.01 percentage points |
| Market position | Joint lowest advertised rate of the 8 lenders we track, with Axis Bank, ICICI Bank and IDFC First Bank |
| Next cheapest | 10.00% — Bajaj Finserv and State Bank of India |
| What sets your rate | Credit score, repayment history, loan amount, tenure — as stated by the bank |
| Minimum income | ₹25,000 net per month |
From the bank’s own rate card · 26 Aug 2026 · HDFC Bank’s own personal loan page, hdfcbank.com
Advertised personal loan rates, the 8 lenders we track
HDFC Bank shares the lowest starting rate with three other banks. Check the second column before you conclude anything from that.
| Lender | Advertised rate → published maximum | Note |
|---|---|---|
| HDFC Bank | 9.99% → 24.00% | Joint lowest starting rate, and a 14.01-point range |
| Axis Bank | 9.99% → 22.00% | |
| ICICI Bank | 9.99% → 16.50% | |
| IDFC First Bank | 9.99% → 25.00% | |
| Bajaj Finserv | 10.00% → 30.50% | |
| State Bank of India | 10.00% → 15.00% | Narrowest range of the eight, at 5.00 points |
| Kotak Mahindra Bank | 10.99% → 24.00% | |
| Tata Capital | 10.99% → 33.00% |
From lender rate pages, checked individually · 17 Sep 2026 · Credsir personal loan rate table, 17 Sep 2026
The same eight lenders sit side by side on personal loan interest rates today. The one with the narrowest band is covered on the SBI personal loan page.
What the band costs on ₹5 lakh over 5 years
The same bank and the same loan, at both ends of its published range.
| Rate | EMI and total interest |
|---|---|
| 9.99% — the advertised rate | EMI ₹10,621 · interest ₹1,37,264 |
| 17.00% — mid-band | EMI ₹12,426 · interest ₹2,45,577 |
| 24.00% — the published maximum | EMI ₹14,384 · interest ₹3,63,039 |
| Difference across the range | ₹3,763 a month · ₹2,25,775 over the loan |
From published comparisons · 26 Aug 2026 · Computed from the published range
Change the amount or the tenure in the EMI calculator and the same two-ended comparison holds.
Joint-best headline rate, wide range
At 9.99%, HDFC Bank advertises the joint lowest personal loan rate of the 8 lenders we track, level with Axis Bank, ICICI Bank and IDFC First Bank. State Bank of India is just behind at 10.00%. On the headline number, HDFC Bank shares the lead, and the figure is genuine — it comes from the bank’s own page.
Now look at the range. The same page shows a maximum of 24.00%, so the range is 14.01 points wide.
Compare that with State Bank of India: 10.00% to 15.00%, a range of 5.00 points. SBI advertises a rate one paisa higher, but its worst case is nine points better than HDFC Bank’s.
On ₹5 lakh over 5 years, the bottom of HDFC Bank’s range costs ₹1,37,264 in interest and the top costs ₹3,63,039. That is ₹2,25,775 between the best and worst outcome at a single bank — far more than the gap between any two lenders’ advertised rates.
So shopping on the headline number means optimising the smaller variable. Our ranked shortlist at best personal loans weighs the whole band rather than the advertised floor, for exactly this reason.
What decides your rate
HDFC Bank lists the factors: credit score, repayment history, loan amount and tenure. The credit score does most of the work, and it is the only one you can improve before applying — how to improve your credit score sets out what actually moves it.
The factor they do not list is your relationship with the bank. An unsecured lender is pricing uncertainty. If your salary already comes into an HDFC Bank account and it can see your payment history, you are a known risk. Someone with the same score on paper but no account is not. The bank advertises pre-approved loans in 10 seconds with no paperwork for existing customers — that is the same point sold as a feature.
The third factor is your employer. Most Indian lenders keep approved employer lists and price against them, and none of them publish these lists. It is why two people with identical credit scores get different offers. Ask about it directly instead of assuming your score decided everything.
Fixed rate, and what that means for you
HDFC Bank prices this loan at a fixed rate. Your EMI will not move when the RBI changes rates, in either direction. That helps when rates are rising and hurts when they are falling.
The bigger effect is when you want to exit. The RBI rule banning prepayment charges only covers floating-rate loans to individuals. A fixed-rate personal loan is not covered, so a charge is allowed.
HDFC Bank publishes its own terms instead. Under its Golden Edge programme, after you pay at least 12 EMIs you can close the loan fully or partly against the outstanding principal.
So if there is any chance you will clear this loan early, check the exit terms as carefully as the rate. A lender half a point more expensive with a genuinely free exit can easily work out cheaper — the prepayment savings calculator shows how much is at stake.
Frequently asked questions
What is the HDFC Bank personal loan interest rate?
9.99% to 24.00% a year, at a fixed rate. The 9.99% is the joint lowest advertised personal loan rate of the 8 lenders we track, shared with Axis Bank, ICICI Bank and IDFC First Bank. But it goes to the strongest applicants only, and the 14.01 point range behind it is more than twice as wide as SBI’s.
Why is the rate range so wide?
Because nothing backs the loan, so the rate has to cover the whole risk. On a home loan your property secures the debt and the range is much narrower. Here it is 14.01. On ₹5 lakh over 5 years, the two ends cost ₹1,37,264 and ₹3,63,039 in interest — ₹2,25,775 apart at the same bank.
Is HDFC Bank the cheapest personal loan?
On the advertised rate, it is joint cheapest — 9.99%, level with Axis Bank, ICICI Bank and IDFC First Bank, against 10.00% at State Bank of India and 10.99% at Tata Capital. On the worst case, no. SBI’s maximum is 15.00% against HDFC Bank’s 24.00%. Which works out cheaper depends entirely on where in each range you land.
How do I get a lower HDFC Bank personal loan rate?
Improve your credit score before you apply, since it matters more than any other factor the bank names. Beyond that, having your salary account and payment history with the bank changes how it prices you. That is why pre-approved offers to existing customers are sharper than anything a new applicant is quoted.
Sources
- HDFC Bank — personal loan page and published rate card, hdfcbank.com (primary source) — as of 2026-08-26
- Credsir personal loan rate table — lender rate pages, checked individually — as of 2026-09-17
Terms change without notice. Confirm the current figures with HDFC Bank before you act.
Related reading
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